Filed Pursuant to Rule 497(a)(1)
File No. 333-143819
Rule 482ad
Prospect Capital Corporation Prices Public Offering of Common Stock
NEW YORK, NY — (MARKET WIRE) — March 27, 2008 — Prospect Capital Corporation
(NASDAQ: PSEC, “Prospect”) announced that it has priced its public offering of 1.15 million shares
of common stock at $15.45 per share, raising approximately $17.77 million in gross proceeds.
Prospect has granted the underwriters an option to purchase up to an additional 0.1725 million
shares to cover over-allotments, if any. The offering is subject to customary closing conditions
and is expected to close on March 31, 2008.
Prospect expects to use the net proceeds of this offering to repay outstanding indebtedness, to
fund investments in portfolio companies and for general corporate purposes. RBC Capital Markets
Corporation and Oppenheimer & Co. Inc. are the joint bookrunning managers for the offering.
This press release does not constitute an offer to sell or the solicitation of an offer to buy nor
will there be any sale of the shares referred to in this press release in any state or jurisdiction
in which such offer, solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of such state or jurisdiction. A registration statement
relating to these securities was filed and has been declared effective by the Securities and
Exchange Commission. A copy of the prospectus for the offering may be obtained from: RBC Capital
Markets Corporation, Attention: Prospectus Department, One Liberty Plaza, New York, NY 10016;
telephone: (212) 428-6670; fax: (212) 428-6260, or Oppenheimer & Co. Inc., Attention: Prospectus
Department, 425 Lexington Avenue, 5th Floor, New York, NY 10017; telephone: (866) 895-5637; fax:
(212) 667-6303; email: ecm@opco.com.
ABOUT PROSPECT CAPITAL CORPORATION
Prospect Capital Corporation (www.prospectstreet.com) is a closed-end investment company that lends
to and invests in private and microcap public businesses. Prospect Capital’s investment objective
is to generate both current income and capital appreciation through debt and equity investments.
Prospect Capital has elected to be treated as a business development company under the Investment
Company Act of 1940 (“1940 Act”). We are required to comply with a series of regulatory
requirements under the 1940 Act as well as applicable NASDAQ, federal and state laws and
regulations. We have elected to be treated as a regulated investment company under the Internal
Revenue Code of 1986. Failure to comply with any of the laws and regulations that apply to Prospect
Capital could have a material adverse effect on Prospect Capital and its shareholders.
This press release contains forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. Any such statements, other than statements of historical fact, are
likely to be affected by other unknowable future events and conditions, including elements of the
future that are or are not under the Company’s control, and that the Company may or may not have
considered; accordingly, such statements cannot be guarantees or assurances of any aspect of future
performance. Actual developments and results are highly likely to vary materially from these
estimates and projections of the future. Such statements speak only as of the time when made, and
the Company undertakes no obligation to update any such statement now or in the future.
Please send investment proposals to:
Grier Eliasek, President and Chief Operating Officer
grier@prospectstreet.com
(212) 448-9577